Four-Unit Property With
For Sale
$450,000
5616 Atlantic Avenue, Mays Landing, NJ 08330
Multi-Family, Mays Landing, NJ
Property Size2,414 SF
Lot Size0.37 Acres
Price / SF$186.41
Days on Market131
Property Features for 5616 Atlantic Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Basement
Partial
Directions
gps
Standard status
Active
APN
12-00988-0000-00002
Size
2,414 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5410
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
shared laundry room
outdoor shed
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Listing Agency:
HomeSmart First Advantage
(732) 352-1000
Listed By:
David Kandel · License #1969173
(845) 274-5771
Added: Apr 29
Changed: Sep 5
Last Checked: Sep 6 at 4:06AM
MLS# 22612185
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,414-square-foot quadplex sits on 0.37 acres and includes a primary residence with three units plus a detached one-bedroom cottage. The main structure offers two vacant apartments, a two-bedroom unit and a three-bedroom unit, along with a renovated one-bedroom owner suite that may not be rented. The cottage contains one bedroom and one bathroom and is currently leased. A basement with exterior-only access provides a shared laundry area, while an outdoor shed adds storage. The property is being sold as-is, with the buyer responsible for certifications, inspections, and repairs.
The site includes parking for 8 cars and is served by public water and public sewer. Built in 1920, the property is located on Atlantic Avenue in Mays Landing, Atlantic County, New Jersey. The wooded side-street setting is close to town amenities, as described in the property information.
The site includes parking for 8 cars and is served by public water and public sewer. Built in 1920, the property is located on Atlantic Avenue in Mays Landing, Atlantic County, New Jersey. The wooded side-street setting is close to town amenities, as described in the property information.
Key Highlights
- Four‑unit configuration with three units in the main house and a separate one‑bedroom cottage
- 2,414 square feet on a 0.37‑acre lot
- Renovated one‑bedroom owner suite; ownership unit cannot be rented
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,844
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$736,880
$736.9K
Cap Rate 7%
$526,343
$526.3K
Cap Rate 9%
$409,378
$409.4K
Market Conditions
NOI Build-Up for 2,414 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$72.4K $30.00/SF
− Vacancy
−$5.4K −$2.25/SF
EGI
$67.0K $27.75/SF
− OpEx
−$30.1K −$12.49/SF
NOI
$36.8K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$736,880
Cap Rate 7%
$526,343
Cap Rate 9%
$409,378
Alternative Uses
Best Use
Multifamily LT 5
$609.4K
$533.2K – $711.0K
NOI $42,659 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$526.3K
$460.6K – $614.1K
NOI $36,844 @ 7.0% cap · market cap 8.19%
Theoretical Best
Warehouse
$776.7K
$679.6K – $906.1K
NOI $54,367 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 08330, NJ
29,548
Population
12,800
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
94%
High-School Grad
127.4 sq mi
ZIP Area
232
Density / Sq Mi
$82,981
Median Household Income
$40,880
Median Earnings
$1,576
Median Rent
$230,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Separate cottage, shared laundry, on-site parking, and public utilities support a flexible residential income configuration.
Where is this quadplex located?
The property is located at 5616 Atlantic Avenue Mays Landing, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four‑unit configuration with three units in the main house and a separate one‑bedroom cottage; 2,414 square feet on a 0.37‑acre lot; Renovated one‑bedroom owner suite; ownership unit cannot be rented
